Daily funding roundup - June 22, 2015

Mitos Suson · June 22, 2015 · Short URL: https://vator.tv/n/3e55

Dollar Shave Club raised $75M; Portworx debuted $8.5M; Dropoff scored $7M

  • Dollar Shave Club, a subscription commerce company that home-delivers personal grooming products, raised a $75 million Series D funding round.The funding came from existing investors Venrock, TCV and Forerunner Ventures, along with new investor Dragoneer and at least one strategic investor. This funding comes only nine months after the company raised a $50 million round in September. With this latest funding it has now raised $148 million in venture funding, and it said to be valued at $615 million.  

  • Portworx, a startup creating the next generation storage software for hosting stateful applications in Linux containers, emerged from stealth mode announcing PWX Converged Infrastructure for Containers, along with $8.5 million in Series A funding. The round was led by the Mayfield Fund, along with participation from Michael Dell.

  • DigitalGenius, a London, UK- and New York, NY-based artificial intelligence company, landed $3 million in funding. The round was led by Metamorphic Ventures with participation from Lerer-Hippeau Ventures, Lowercase Capital, RRE Ventures and Lumia Capital. The company will use the funds to expand operations and growth plans and to productize its AI offerings.

  • Chennai-based Edsix Brain Lab, edutainment startup raised an undisclosed amount in a second round of angel funding from Sprout Angels LLP. IIM Ahmedabad’s Centre for Innovation Incubation and Entrepreneurship (CIIE) and US-based existing investor Village Capital. Founded in 2013 by Parimala Vageesan, Kalpana Murthy and Saravanan Sundaramoorthy, Edsix is a CIIE incubated startup that offers online and offline educational and entertaining games for school curriculum for K-12 in assessment and enhancement of brain and life skills. Its product ‘Skill Angels’ provides a multilingual platform that also has Indian regional languages. The startup plans to expand its services in the B2C segment, enhance technology platform and B2B integration with the new funding.

  • Tech in Asia, a Singapore-based online platform for Asia’s startup ecosystem, secured a total of $4 million in funding. The round was led by the SB ISAT Fund, with participation from Eduardo Saverin, Walden International, Marvelstone, m&s Partners and Andrew James Solimine, as well as existing investors East Ventures, Fenox Venture Capital and Simile Venture Partners. The company intends to use the funds to build more relevant features for its community. It is currently hiring.

  • Matrix Partners, Snapdeal co-founders Kunal Bahl & Rohit Bansal invested in Bangalore-based recruitment startup Belong founded by ex-Exotel co-founder Vijay Sharma along with Sudheendra Chilappagari. The startup raised over $5 million in this Series A round of funding which also saw participation of its seed stage investors including Blume Ventures, Redbus founders Phanindra Sama and Raju Reddy of Sierra Atlantic. Belong enables growing companies to discover and engage high-impact talent through data science and predictive analytics. Its search and recommendation technology analyzes millions of profiles across social, internet and public sources to help companies discover potential candidates who best fit their culture and skills requirements, while gaining verified insights into whether they are passively open to new opportunities. The data-driven solution also helps companies kickstart engagement with candidates through personalized interactions that are backed by social insights.

  • Smart irrigation system CropX announced a $9 million in funding from former Google CEO Eric Schmidt’s venture capital firm Innovation Endeavors, as well as GreenSoil Investments and Finistere Ventures.

  • Smart Vision Labs, a company commercializing a new tool to bring the basic eye exam into the palm of a doctor’s hand, raised $6.1 million in its first major round of institutional funding from a group of investors led by Techstars Ventures. Other investors in the round included Heritage Group, Connectivity Capital, and Red Sea Ventures.

  • Dropoff, an on-demand delivery service, scored $7 million in new funding to be the logistics provider for businesses of all kinds. Greycroft led the Series A round, with participation from new and existing investors including Correlation Ventures, Texas Atlantic Capital, and Wild Basin Investments.

  • StockSpot, an online investment adviser and fund manager from Australia, raised US$1.25 million in series A funding for its expansion.The round was co-led by Australian fintech venture capital firm H2 Ventures and Global Founders Capital, the investment fund of Rocket Internet. Founded by former UBS portfolio manager Chris Brycki, StockSpot is among a wave of fintech startups that want to upend traditional financial institutions. Robo financial advisers similar to StockSpot include Wealthfront and Betterment in the US, and Nutmeg in the UK. Using its algorithms, StockSpot assesses your financial situation, investment goals, and risk tolerance, then recommends where you should put your money in. It has created low to high risk portfolios that spread your investment over a combination of assets like stocks, fixed-income, and gold.

If you are interested to be included in our funding roundup, submit your press release or blog post about your financing round to mitos@vator.tv.

Image Source: venturebeat.com


DigitalGenius, a London, UK- and New York, NY-based artificial intelligence company, raised $3m in funding.
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Mitos Suson

I produce Vator Events and enjoy the challenge. I am learning and growing a lot, being involved with Vator and loving every moment of it!

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